BNB/USD: Bullish Trend Holds Strong, Eyeing $1000 Despite Profit-Taking

BNB/USD  pared some of its gains due to profit-booking. It hit a high of $782.10 yesterday and is currently trading around $758.80.

Short-term trend remains bullish as long as support $600 holds. It trades above the 55 and 34, 200 and 365  EMA on the 4-hour chart. Near-term support is around $740; any close below targets $700/$670/$650/$644/$628/$598/$570/$520.  If the pair closes below $500, it potentially leads to further declines towards $400.

Immediate Resistance is at $785.Any breakout above this resistance confirms bullish momentum and a jump towards $800/$1000.

Indicators ( 4-hour Chart)

Directional Movement Index: Neutral

CCI (50):  Bullish

Trading Strategy

It is good to buy on dips around $730 with a stop-loss set at $700 and a target price of $800/$1000.